Monday, October 9, 2017

Canada could soon have TPP deal

Negotiators are said to be close to a trade deal on Trans-Pacific Partnership without the United States.

They are working towards a Nov. 10 date when trade ministers are scheduled to meet in Viet Nam.

According to a recent Canada West Foundation study, Canadian economic gains would be $3.4-billion, higher than the estimate of $2.8 billion if the United States had remained in.

Canada gains more without the U.S. as a partner because it won’t be competing with the U.S. for sales in the partnership countries, which include Japan.

That’s good news for Canadian exports of beef, pork, canola and a number of other crops.

One of the unknowns is what this deal would mean for the ongoing negotiations to revamp the North American Free Trade Agreement.

U.S. President Donald Trump has repeatedly vowed to change trade agreements to “make America great again” and so is unlikely to be pleased about Canadians gaining an export advantage via the Trans-Pacific Partnership.